Four Corners Property Trust (NYSE:FCPT) Now Covered by Analysts at Barclays

Equities researchers at Barclays initiated coverage on shares of Four Corners Property Trust (NYSE:FCPT) in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm set an “equal weight” rating and a $31.00 price target on the financial services provider’s stock. Barclays‘s price objective suggests a potential upside of 8.75% from the stock’s current price.

Several other brokerages have also recently weighed in on FCPT. JMP Securities reiterated a “market perform” rating on shares of Four Corners Property Trust in a research report on Tuesday, December 10th. Wells Fargo & Company reiterated an “overweight” rating and issued a $32.00 target price (up from $28.00) on shares of Four Corners Property Trust in a research note on Tuesday, October 1st. Raymond James raised their price target on shares of Four Corners Property Trust from $27.00 to $29.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. UBS Group began coverage on shares of Four Corners Property Trust in a report on Thursday, November 14th. They issued a “buy” rating and a $33.00 price objective for the company. Finally, Evercore ISI increased their target price on shares of Four Corners Property Trust from $26.00 to $28.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Four Corners Property Trust presently has an average rating of “Moderate Buy” and a consensus price target of $30.60.

Four Corners Property Trust Stock Down 0.8 %

FCPT stock opened at $28.51 on Tuesday. The company has a market capitalization of $2.76 billion, a P/E ratio of 26.64 and a beta of 1.12. Four Corners Property Trust has a 12 month low of $22.38 and a 12 month high of $30.93. The firm’s fifty day simple moving average is $28.72 and its 200-day simple moving average is $27.58. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.17 and a quick ratio of 0.17.

Four Corners Property Trust (NYSE:FCPT) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $0.27 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.14). The business had revenue of $66.79 million during the quarter, compared to analysts’ expectations of $63.50 million. Four Corners Property Trust had a net margin of 37.27% and a return on equity of 7.68%. Four Corners Property Trust’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 earnings per share. As a group, equities research analysts forecast that Four Corners Property Trust will post 1.66 earnings per share for the current year.

Hedge Funds Weigh In On Four Corners Property Trust

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Trust Inc. raised its stake in Four Corners Property Trust by 1,469.1% in the 2nd quarter. Blue Trust Inc. now owns 3,703 shares of the financial services provider’s stock valued at $91,000 after purchasing an additional 3,467 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in Four Corners Property Trust by 3.1% during the 2nd quarter. Louisiana State Employees Retirement System now owns 46,300 shares of the financial services provider’s stock worth $1,142,000 after purchasing an additional 1,400 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Four Corners Property Trust by 2.4% during the second quarter. Bank of New York Mellon Corp now owns 986,291 shares of the financial services provider’s stock worth $24,332,000 after buying an additional 22,792 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Four Corners Property Trust by 5.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,403 shares of the financial services provider’s stock valued at $1,836,000 after buying an additional 3,597 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Four Corners Property Trust by 12.4% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 32,934 shares of the financial services provider’s stock worth $812,000 after buying an additional 3,636 shares in the last quarter. Hedge funds and other institutional investors own 98.66% of the company’s stock.

About Four Corners Property Trust

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries.